Issue - meetings

(a)       That having considered the Clwyd Pension Fund Annual Report for 2019/20, the Committee has no specific comments to make; and

(b)       The Committee confirmed that there were no specific areas of concern to require further information on at the next update.

The Head of Clwyd Pension Fund presented a report on the Clwyd Pension Fund and Annual Report for 2019/20.

The Committee was introduced to the Pensions Administration Manager who gave an overview of the range of services provided by the teams.

The Pension Fund Accountant spoke about the statutory obligations in publishing the Annual Report and went on to highlight key areas such as the outcome of the triennial actuarial valuation and the impact of the emergency situation.

As a member of the Clwyd Pension Fund Committee, Councillor Mullin paid tribute to the work undertaken by the team.

A presentation was given on the local and national governance of the Fund covering:

·         Clwyd Pension Fund Governance Structure

·         Committee and Board changes

·         The National Local Government Pension Scheme

·         Policies and Strategies

·         Objectives

·         Summary of Independent Adviser’s Sixth Annual Report

·         Summary of Pension Board’s Sixth Annual Report

·         Looking forward

During the presentation, the Head of Clwyd Pension Fund explained the implications of Good Governance Recommendations to be introduced from next year.

The Chief Executive spoke about the complexity of the Fund and its robust governance arrangements.  He thanked the officers, particularly the Pensions Administration Manager and her team for the improvements which had been made in that area.

Councillor Jones thanked the team for their presentation.  He moved the recommendations which were supported by the Committee.

RESOLVED:

(a)       That having considered the Clwyd Pension Fund Annual Report for 2019/20, the Committee has no specific comments to make; and

(b)       The Committee confirmed that there were no specific areas of concern to require further information on at the next update.